The Federal Reserve Board reports that all groups of
consumers had
a lower mean income in 2013 than they did in
2007. Mean wealth also declined for all the
groups.

The trend is
hurting business at casual dining establishments like Olive
Garden, Applebee's, and Red Lobster.

The restaurants have tried implementing more promotions to
lure back customers.

Even McDonald's customers are complaining that the fast-food fare
is too expensive, according to a
Bloomberg report.

The retail sector is also hurting.

Low-income and middle-class retailers including
Wal-Mart, J.C. Penney Co., Target, Macy's, and Family Dollar have
reported disappointing
earnings this year.

Executives at these retailers say that Americans are increasingly
unwilling to spend money on discretionary items, despite modest
gains in the job market.

"Low-end and middle-income retailers are still suffering because
people are buying so close to need," Brian Yarbrough,
consumer analyst at Edward Jones, told Business Insider. "In the
past, retailers could depend on people spending a little
more."